Guangdong Mingzhu Group Property Co., Ltd. announced a private placement of 300,000,000 at CNY 1 per share for gross proceeds of CNY 300,000,000 on January 12, 2017. The shares will be issued at par. The transaction will include participation from existing investor Guangdong Mingzhu Group Co., Ltd. (SHSE:600382). The company’s registered capital will increase from CNY 600,000,000 to CNY 900,000,000. The transaction has been approved at 1st session of its 8th directorate for 2017 of the investor. Pursuant to the transaction, the investor shall continue to hold 100% stake in the company.